Numerical comparator



April 25, 1939. M. L. HASELTON ET AL 2,155,825

NUMERICAL COMPARATOR Filed Feb. 2, 1935 9 Sheets-Sheet l lA/b/ v, w 2 a mg '8 E 5 Lflasellmz RaynondM/Iicks r 1/ EY April 25, 1939:

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NUMERI CAL COMPARATOR Filed Feb. 2, 1935 9 Sheets-Sheet 3 INVENTORS Me rion LHase [[022 M HASELTON El AL 2,155,825

April 25, 1939.

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9 Sheets-Sheet 4 Filed Feb. 2, 1935 INVENTORS 8 Mg Y MBAM April 1939- M L. HASELTON ET AL 5,82

NUMERiCAL COMPARATOR Filed Feb. 2 1955 v 9 Sheets-Sheet 5 INVENTORS Merton L [Ia-sellazz Raymond/liflicks' April 1939- M. L. HASELTON ET AL 2,155,325

NUMERICAL COMPARATOR 9 Sheets-Sheet Filed Feb. 2, 1935 I'NVENTORS Merton LHas-e l'ton April 25, 1939.. M, L. HASELTON I ET AL 2,155,825

NUMERICAL COMPARATOR Fil ed Feb. 2, 1955 9 Sheets-Sheet"? INVENTORS Merton Lllasehon RaymondMfiiclc-s April 25, 1939. M. L; HASELTON ET AL 2,155,325

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5 mil llll W m m INVENTORS Merton Lllaseltqn B y RaymondMfIwks 7 O M April 25, 1939.' M. HASELTON ET AL 2,155,325

NUMERICAL COMPARATOR ar gzmgy Patented Apr. 25, 1939 UNITED STATES NUMERICAL COMPARATOR Merton L. Haselton,

Hicks, register Corporation, poration of Delaware Application February 15 Claims.

Our invention relates generally to a numerical comparator, and particularly to a limit order device which automatically compares a known or selected number, or a predetermined price or value of a stock or other commodity, with a reference number or the current price or value of the commodity, and indicates if and. when a predetermined numerical relation obtains between the respective numbers, prices or values so compared.

This application is in part a continuation of our copending application Ser. No. 498,216, filed November 26, 1930, now Patent No. 1,992,945, March 5, 1935.

The invention may advantageously be employed for various purposes. For example, and by way of illustration only, in brokerage houses. frequently it is desirable or necessary to compare the result of a customer's transaction in a stock or other commodity with his margin account or to compare the current price of the stock or other commodity with the brokers limit buying or selling orders. Also, in charge account systems in stores or other businesses, often it is desired to compare the amount of a customers order or purchase with his credit rating to determine whether the charge may be made, and in banks or other financial houses it is usually necessary to know the relation between a depositors balance and a check or other paper presented for payment.

One of the objects of the invention is to provide a numerical comparator or limit order device which will automatically compare a known or selected number with .a reference number and which will automatically indicate whether a predetermined numerical relation obtains between the respective numbers.

In the transaction of stock business, orders are placed with the broker to buy or to sell stock at certain specified prices; and in the case of margin accounts it may become necessary to increase the collateral as the price of the stock falls or rises. Heretofore, the price at which stocks are bought or sold, and at which the margin is to be increased, was usually written on a slip of paper, and when this price was reached as observed On the ticker tape, or automatic stock quotation board, or the like, it was necessary to find all of the slips bearing this price as well as the slips bearing the prices between the last quotation and the quotation immediately preceding.

Another object of the invention is to facilitate work of this nature by providing means for auto- Rye, N. Y., and Raymond M. Plainfield, N. J., assignors to The Tele- New York, N. Y., a cor-,

2, 1935, Serial No. 4,637

matically indicating, as by delivering all of the slips bearing the last quoted price, or by opera ating other signal devices corresponding to the last quoted price, as the prices are changed. M

Another object of the invention is to provide ,5 means for indicating, as by delivering all of the slips bearing prices between the last quotation and the preceding quotation, or by operating other signal devices respectively corresponding to preselected prices between the last or instant 1:0 quotation and the preceding quotation, asthe prices are changed.

Another object of the invention is the provision of such means which can be operated at various distant stations from a central office 18 either by a special transmission system or in conjunction with well known automatic stock quotation systems.

These and other objects will appear from the following description of several illustrative embodiments of the invention disclosed in the accompanying drawings, in which:

Figs. 1, 2 and 3 show a general wiring diagram of a limit order device;

Figs. 2a, 2b, 2c and 212 show details of the rotary switch in Fig. 2;

Fig. 4 shows a combined indicator a order slip delivery control means;

Fig. 5 is a side view of the commutator taken on the line 5-5 of Fig. 4;

Fig. 6 is a View on the line 6-6 of Fig. 4;

Fig. 7 is a view on the line 1-1 of Fig. 4;

Fig. 8 is a view on the line 8-8 of Fig. 4;

Fig. 9 is a longitudinal section on the line 9-9 of Fig. 4;

Fig. 10 is a section as indicated by the line llll0 on Fig. '7;

Fig. 11 shows a front view of a limit order slip receiving .and delivering cabinet for one stock;

Fig. 12 is a side view of Fig. 11 partly in section;

Fig. 13 shows one form of limit order slip;

Fig. 14 shows a front view of the cabinet including a plurality of limit order slip receiving and delivering sections;

Fig. 15 is an end view of the cabinet; I

Fig, 16 shows in top plan, partly in section, another form of indicator and limit order slip delivery control mechanism;

Fig. 17 is a view taken on Fig. 16;

Fig. 18 shows a wiring diagram for use in connection with the indicator and limit order slip delivery control mechanism shown in Figs. 16 and 17;

rid limit the line I'|-l'| of 50 The indicator portion of the mechanism shown.

in Figs. 4 to 10 may be of the same construction as that shown in the application ofMertoriL. Haselton, Serial No. 423,599; filed Jjanuaryr27', 1930, now Patent No. 2,049,499; August 4, 1936, exceptthat the indicator" drum is: made: shorter so as to provide space for a rotary switch which controls the slip delivering, mechanism, as will be set forth later.

The mechanism in these figures is also generically the same; as that shown in the application of Merton L. Haselton, Ser. No. 276,883,,fi1ed May 11, 1928, nowPat'ent No. 2,067,187, issued January 12, 1937, in which is shown a. wiring diagram by. means of which the open", high, low and "last indicators of any number of a'large, number of stocks may be selected, automatically forwardly turned to blank position, andthen turned forwardly to indicate the new quotation.

-In' the application. of Raymond M. Hicks and Everett Leroy, Serial No. 455,217, filed May 24, 1930, there is shown a complete transmitting and receiving mechanism by means of which any one of a large number of stocks may be selected, inwhi'chv the variousranges of the selected stock may be operated in combination, and in which provision is made for automatically turning all. the selected indicators forwardly to blank. by; automatically transmitting from an impulsing-rneans in the receiving station tenimpulses after which mechanism comes into operation, to, transmit actuating impulses which are terminated under the control ofstorage mechanisms when the indicators have been moved to indicate the new price.

- Theaembodiment which we have disclosed in Figs. 1 to 15 may be'connected in parallel with anychosen. indicators shown in the application last referred to, so that our mechanism may be used supplementary to'the. usual stock quotation boardrfft is obvious, however, that. our mechanism could be'used'independently of any stock dilatation board and that the selection and operation of the indicators shownin Figs. 4. to 10 could be effected in. the same way as is done in said applications or by other'm'eans.

As shown in; Fig, 14, the slip retaining devices may besuitably. mounted. in a cabinet 20 which s. provided. with anydesi'red number ofsections A each of which includes settable storage means comprising. a number of slip retaining devices caohl'ofwhich, as shown in Fig/12, may consist of, a spring-pressed core 2| ofa. solenoid 22, The core extends through a frame member 23 and on its projecting end. supports anydesired number oflimit order slips 24 stored. thereon. It'jis obvious thatif thesolenoid 22 is energized and the 'core 2| is retracted that theslips 24 will: be released. Iffdesired, supports or shelves 25, Figsf14 and 15, maybe provided to receive these slips or in certain constructions these sup portsf'mayb'e' omitted and the slips may be al- Iowedto "drag n to the, base 26, 01 the cabinet.- shown in Figs. 3 and 11," each section} m y include eighty retaining devices which in ahori zontal direction correspond to fractions in eighths and in a vertical direction correspond to units. As will be shown later, the various solenoids 22 may be under control of the units and fractions indicator wheels.

Supported on the top of each section in any Suitable manner is a series of indicator units whi'ch may include the tens} units"'and fractions indicators to indicate this portion of the price of the stock. The means for controlling the limit order slip retaining means may be associate ii, with the units and fractions indicators ofsaidseries of indicator units.

The main cabinet above the units may be provided' withj a holding means 21 for tags bearing the abbreviation'ofthe stock to which the assoelated "section is allotted.

Fig. 1;2 sho,ws. one of the indicator units 28 in position in the cabinet and indicates a slip connectioribetween this unit and the cabinet and the wiring system, operating the unit.

.The indicator. mechanism which we have dis.- closedin Fig. 4, and which. is described specifically in. application Serial No. 423,599, includes a frame 30in which is supported a magnet 3| cooperatingwith a pivoted armature 32 integral with an actuating fork 33 which cooperates with a ratchet wheel 34 on a shaft 35 suitably mounted in the frame, 30 and supporting the indicator cylinder 36' and acommutator 31, saidshaft preferably being grounded. to'the frame of the cabinetiby means. of the springs 38 and 39.

The commutator '31 includes an interrupted disk 40 with which cooperates a brush- 4| in each of the positions 1 to 9 and 0. but not in the bank position- The commutator also includes. a

disk 42 which. is provided with a sectoreshaped piece 43 occupying the part ofthe interrupted portion'in the disk 40 which cooperates with the brush 4.|. when the indicator is in the blank position. The disk 40 is in electrical. connection with the shaftv 35. Cooperating with the disk 42. is a brush.

In the jsystems described in the applications referred to, when the selection of' any particular set, of. indicators has been. made and restoring'impulsesare transmitted these impulses come in, over the. clip 45, continue over the, coil of the magnet 3|, across the brush: 4| to the commutator 40.vv in case the indicator is inany position but the blank position, and then continue, through. theshaft 35 and the spring contacts 3, 8 jfan'd 39 to the frame of thecabinet and togriound, As the ten restoring impulses are sentin, the indicator will be, stepped forwardly untilflthe. contact between the brush 4| and the disk 40 is broken which causes the indicator, which is then in the blank position, to remain in. this, position during the continuation of the restoring impulses.

After; restoration has been completed, of all the indicators selected, ground will be applied to the clip 46; of each selected indicator unit so. thatthe first, actuation impulse which comes inbver the clip. 45, over the coil of the magnet 31 and thejbrush 4|, will continue over. the. sector 43, the disk 42, the brush 44, and the clip 46 toT'an actuation ground which has been applied to the wire connectedtothis clip. The remainder of the, actuation impulses will then cause the indicators to move forwardly to indicate the new. price, continuing. to ground as in the case of the restoration pulses.

The, disclosure ir1,,Figs 4m 10 differs from that o a pl catio ser 'alii io. 2 .599 t the indicator cylinder mmiae shorter to provide amass:

space for a rotary switch mechanism which we employ to control the delivering of the slips from the cabinet. This rotary switch mechanism includes a rotary arm which is mounted for movement with the shaft 35 and is insulated therefrom as indicated. This rotary arm is pro-- vided with a spring fork end one prong of which cooperates with an insulated contact ring 5| which is connected, in the case of the units indicator, by a wire 52, Fig. 1, across a break contact 53 of a relay UR to ground. The reason for this construction will be brought out later. The other prong of the fork cooperates with a series of contacts in the positions 1 to 9 and 0 of the units indicator, as indicated in Fig. 1. These contacts are suitably insulated from a supporting plate 55 as shown. As the units price of a stock is generally always indicated whenever the price of the stock is indicated there is no contact provided in the blank position.

In the case of a fractions indicator in which fractions are indicated in eighths the fixed contacts include contacts I to I designated by 56, and the contacts 8, 9, 0 and blank, Fig. 1, which are all connected together. In case there are no fractions it may be desirable to indicate this fact by showing a 0 in the fractions position or by blanking it or by showing an 8. The insulated contact ring 5! in the case of the fractions indicator is connected by a wire 51 (Fig. 1) across a break contact 58 of the relay FR to battery and ground. The relays UR and FR are slowto-release relays and are provided for a purpose which will appear obvious from the following description.

As a stock is selected the impulsing lines and 6|, Fig. 1, are connected to impulsing means, such as shown in the applications referred to, and restoring impulses are first sent over these lines to the operating magnets UM and FM for the units and fractions indicators U and F. The impulses across the windings of the relays UR and FR cause these relays to pick up and to break the circuit connections to the contact rings 5| in the units and fractions indicators at the contacts 53 and 58. These relays are made slowto-release so that the circuit connections will be broken throughout the entire restoring and actuation period and also during the interval between the restoring and actuation period. As the impulses continue, the operating magnets UM and FM move their respective indicators to blank position and their switch arms 50 to the blank position. After all the selected indicators have been moved to the blank position a ground for the actuation circuits is provided, as shown in said applications, over the wires 62, Fig. 1, connected to the clips 46, Fig. 4, so that the actuating impulses may move the indicators from the blank position to the one position and then on to the position in which they indicate the new price.

After the indicators have been moved forwardly to indicate the new price and the impulses have ceased the relays UR and FR will release and apply ground and grounded battery respectively to the lines 52 and 51. Battery on the line 51 continues across the arm 50 of the fractions indicator to one of the contacts I to I, or 8, 9, 0 and blank", across the line connected to the respective contact, and across the winding of the respective multicontact relay of the relays indicated by Rbl (0) and Rl to R1, to ground.

The ground on line 52 continues across the arm 50 of the units indicator and one of the contacts I to 9 and II and across the corresponding contact of the multipled contact relay energized, to one line in one of the groups of lines extending toward the bottom of this figure. Slip connections 46a similar to clips 45 and 46 may, as indicated in Figs. 4, 9 and 12, be provided in the lines 52 and 51 and the lines connected to the contacts 55 and 56, Fig. 1, so that the indicator unit may be readily removed and replaced as is well understood. Of these various lines, the lines 0.0, 0.! to 0.! corresponding to the fractions 0, A; to and lines L0, H to L1 corresponding to the prices 1, 1. to 1.%, have been shown as cables 63 and 64 which are continued to Fig. 2 in which these lines are connected to fixed contacts 66 of which there are ten sections of eight contacts each. The other cables from Fig. 1, with which are associated the units price numerals 2, 3, 4, 5, 6, 7, 8 and 9 in Fig. 2, are connected to various other sections of contacts as indicated in Fig. 2. Through one of these contacts 66, Fig. 2a, with which the rotatable switch arm 61 may engage, ground from the contact 53, Fig. 1, continues over line 52, arm 50, across one of the contacts of the multicontact relays in Fig. 1 and across a line associated with this contact 66. and continues across the conductor 68 of this arm to the line 69 which is the ground terminal for the stop relay STP, Fig. 2, to the other terminal of which battery and ground are connected. The function of this stop relay is to interrupt the current to the. motor M which is the driving means for the arm, this being for the purpose ofarresting the arm in the position corresponding to the indication set up on the indicators.

The motor M is a direct current motor and is provided with a constant field, the circuit from the power supply being indicated at Fl, F2. The shaft of the motor operates through a gear connection in a gear box 10 and gears H, the shaft 12, to which the arm 6'! is secured. For the purpose of controlling the movement of the motor either forwardly or reversely to move the arm 61 directly from a position corresponding to the old price to a position corresponding to the new price, the arm 61 is also provided with conducting arms 13 and 14, Figs. 2 and 2b, provided with contact rings or cylinders cooperating with brushes which are connected by wires 15 and 16 to the ground terminals of relays STF and STB, to the other terminal of which battery and ground are connected.

If we assume that the arm 61 is in the position indicated in Fig. 2, and that the new price is higher than the preceding price, battery will continue across the coil of the relay STF, line 15, the arm 13 and a contact 18 of the pair of contacts 18 and 19, and in a clockwise direction across the various clips 80, Figs. 2a and 2d, which connect the contacts 18 and 19 of adjacent pairs of contacts and through the contact 66 which is grounded over the contact 53 in Fig. 1. The

electrical connection between contacts 66, 18

and 19 through in the position of the arm shown in Fig. 2 is broken by the arm.

As the relay STF picks up it closes a holding circuit for itself across one of its contacts BI and the line 82 and the break contact 83 of the relay S'IP to ground so thatthe relay STF will be held up as long as the relay STP remains deenergized. The relay STF at its contact 84 connects the incoming line Al of the motor circuit to the line 85 connected to one tenninal of the motor, and at its contactv 85. connects the return. line .A2 to the other terminal of the motor thus causing the motorto -rotate in a direction to move the arm 61 clockwise. I

I f the new price were smaller than the preceding. price the circuit would be closed. from battery overfthe coil of the relay STB, line 16, arm 13, contact. 19 and a series of clips 80 in a counter-clockwise direction to. the contact 66 grounded over the contact 5.3, Fig. 1. This would cause the relaySTB to pick up and to connect the linesAl and A2 in a reverserelation with respect to the motor causing the motor to. move in the opposite direction thereby driving the arm 6-1 counter-clockwise.

In order that-this mechanism-may function as described the arm 61 is provided witha rearward extensiont'l, Figs. 2a and 2c, of insulating material and which may be integral with the insulating, material between the various conducting members of the. arm 61. The end of the arm which cooperates with the clips 80 is as shown in Fig. Zc'soshaped that as it is moved it will raise the 'clips 80 out of contact with the contacts 6'6, 18 and I9 and break the circuit to ground over contact 53 at this point. The movement of the arm 61 depends upon which one of the relays STF and STB is energized which in-turn depends upon which one'of the members 13 and 14 is connected to ground over the contact 53 in Fig. 1. The function of, the arm 81 is to permit only one of the relaysS-TF and SEE to pick up.

The relay STE-also closes a holding circuit over=one of its own-contacts and the contact 83 of the relay-STP.

The arm 61. will be-moved inone direction or the other by the motor'until the arm arrives in a position corresponding to the new setting of thein'dicators. In this position the conducting strip BBofthe arm 61 engages the grounded contact 66 and through the line-69 applies ground to the relay STP which opens the holding circuit for either of the relays STF or STB which upon release will interrupt the circuit to the motor causing the-arm 61 to stop in a position corresponding to the adjustment of the indicators.

For theipurpose of-preventing overthrow of the arm a drag brake 88 is applied to the shaft, as indicated 2.

The arm Glalso includes a wiper arm 89, Figs. 2 and 2a, to which grounded battery is normally applied over line 90 and as this arm fleis moved it engages contacts 9! which, as shown in Fig. 2, are-connected by cables 1 to 9 and 0 to the energizing leads of varioussolenoids 22 in Fig. 3 which are the solenoids shown in Fig. 12. It will thus be seen that as the arm 61 is moved either forwardly or reversely from arposition indicating an old price to a position indicating anew price that various circuits-will be completed to various solenoids-in Figs. 3 and 12- causing all of the solenoids corresponding to the various prices between the old price and the new price to be energized which in turn causes all of the slips supported .upon the cores of these solenoids to be released.

In the embodiment of our invention shown in Figs. 16, 1'7 and 18, we have shown anarrangement which'may be used with indicators of the type shown in Letters Patent of the United States to Merton L. Haseltonand Page S.-Haselton, No. -1-,890,878, December 13, 1932, in which the-fractions are indicated in tens and in which the indicators are moved directly forwardly -or reversely. by the operation respectively of magnets 92. and 93. which operate pawls 94 andf85 cooperating with ratchets 96 andIBT to move the fractions. indicator wheels 981 respectively forwardly or reversely. Asfthe' fractions indicator wheel-is moved to complete one'turn, it operatesa Geneva. mechanism 99-to cause the units .indicator. wheel l'0'0.to move either forwardly or reversely. depending upon the direction of movementof thev fractions wheel 98. Similarly, when the units wheel completesone rotation, it causes movement of the tens indicator wheel and likewise the movement ofthe, tens indicator wheel causes. movement. of the hundreds indicator wheel.

The mechanism described above is clearly shown in the=patent above referred'toand is be: lieved will be clear from the disclosure shownin the accompanying drawings.

For the purposeso'f this invention the various'inr dicator wheels-and the Geneva drives are preferably insulated from each other and from the frame of the indicator, and the units and fractions indicators are provided with contact sur- =faces I01 and L02 cooperating respectively with fixed contacts 403 and 104 respectively connected -to grounded-battery and to ground as is also in.- dicatedby grounded battery and ground applied to arms 109 and H0 in Fig. 18, and suitably mounted and. insulated with respect to the frame :as disclosed. Cooperating with the units and fractions indicator wheels are insulating rings 405 and-106- which carry contacts 1.01 and I00 cooperating withpins l-.09e.and I won the indicator wheels. These pins are shown as arms in Fig. 18. *Wires are connected to these contacts as shown in Fig. 18, to -control theenergization of the relays in this figure.

Battery on the contact 403 while the pin .0 'is in contact with-any .of the ten. contacts I01 drawsup a corresponding multi-contact relay R0 to R9 which appliesb-attery over its multicontact :switch H'I to each ofthe ten fractions relays in a horizontal row-of relays-correspondingtothis rmulticontact relay.

'Ground on the contact |04 when the .pin .0 is in :contact with any of "the ten-contacts L08 'extends-to-one of the lines .1 to 9 and 0.atfthe right of *Fig. :18 which are the ground lines ior "corresponding vertical rows-of solenoids. With "thepins I09 and H0 in any given position the :solenoid corresponding to such position will be energized'thus delivering theslips supported by theicore of said solenoid.

If we assume that-thepins are in the position shown in Fig. .18,-andthatthe next pricechange is'an advance of three-eighths, the-pin H0 will move-into the third position and as'it moves over the conta'ct I 'itwill cause the corresponding solenoid todeliversslips corresponding to that price, and as' it moves overr=the contact Lit will cause the corresponding slips'to be delivered, and "asit' moves into contact with contact 3:it will cause the corresponding slips to be delivered.

' If the fractions .contactswere ina position over :the 91contact, and-the units pin in the position :shown ar-rd if i thesprice change were at advance .of' one-tenth, the fractions pin would be moved from contact 0 to the contact 0 and at the same time the. pin 1 l 09-.o-f the'units indicator would be movedfrom-0 contact to the I contact, thus caus- -ing -a-rela'y corresponding tothe price of. one and no tenths to bevenerglzedto deliver the slips retained by the core of said relay. Similarly, if the old pricewereoneand no" tenths and the new price were nine-tenths, the solenoid corresponding to nine-tenths and no units wouldbe energized.

It will thus be seen that in connection with indicators which are operated directly forwardly or reversely from the old position to the new position our structure may be accordingly simplified as shown in Figs. 16, 17 and 18.

While we have shown various ways of energizing the delivering solenoids corresponding to the possible quotations between the old and new quotations, successively, by means depending upon impulses which may control indicators which are set directly from the old price to the new price, or which are first moved to the blank position and then moved forwardly to the new price, it is obvious that arms 50 in Fig. 1 and the pins I09 and I I 6 in Fig. 18 could be operated by hand according to information obtained from the tape, or from an automatic stock quotation board, or by telephone, or in any other manner.

Figs. 19 to 23 illustrate an alternative form of the invention in which order slips 24 or their equivalent are not required or used, the arrangement comprising storage and signaling apparatus which may be substituted for the storage and signaling apparatus of Figs. 11 to 15, certain of the corresponding elements of Figs. 11 and 12, and 19 and 20, respectively being designated by the same reference numerals, with the prime mark added in the latter figures. In the ale ternative form electro-magnetic relays I25 are employed in place of the solenoids 22 of Fig. 12, the actuating windings of the respective relays being connected in circuit and the relays selec-- tively energized in the same manner as the solenoids hereinbefore described. Each relay I25 controls a signal device, such as an incandescent lamp I26, mounted in the same compartment as the relay and individual to the relay, each compartment being closed at the front by a panel member I21 (shown in detail in Figs. 21 and 22) of wood, fibre or other suitable material, the panel having mounted therein a lens I28 of glass or other translucent material through which the adjacent signal lamp I26 gives a visual indication when the lamp is lit. The lens enables the lamp signal to be seen more readily from various angles and positions at the front of the cabinet 26', and the lens may be of any desired color as red, yellow, etc., more readily to attract attention thereto when the lamp is lit. The price numerals 0.0 to 9.7 on the respective panels correspond to the price numerals on the order slips 24 of Figs. 11 to 13.

Each of the lamps I 26 is controlled by an individual settable device, which in the form shown comprises a switch I29 mounted on the lamp panel, the switch controlling the operation of the lamp in a manner hereinafter described. The switch has a rotatable handle I 36 which extends from the front of the panel; when the handle is in the position shown in full lines in Figs. 19 to 23, the switch is open, and when rotated through an angle of 90 to the dotted line position indicated in Figs. 21 and 22, the switch is closed.

In addition to the individual lamps I26, each bank of lamps, such as the bank ATT, also has a master lamp I 32 mounted in the upper compartment of the bank, Figs. 19 and 20, this master lamp being controlled by a master relay I 33 which is common to all the individual lamps I26 of the bank, and thus serves as an additional signal means whenever one or more of the individual lamps of the bank are burning to be noticed more readily from the front of the cabinet 26'.

Fig. 28 is a schematic diagram of one arrangement of electrical connections suitable for controlling the lamps. Selective energization. of the relays I 25 is effected, in the same manner as the solenoids 22 hereinbefore described, by grounded battery over line 90, Fig. 2, wiper arm 89, contacts 9| connected to the groups of lines 0 to 9 (Fig. 3), which circuit includes the actuating winding .1: of the selected relay to ground, and attracts its armature to close the normally open contact I35 in the lamp circuit as the price trend reaches the price corresponding to the selected relay. If the switch I29 associated with the lamp is in its open position, as shown in Figs. 19 and 23, the closure of the contact I35 has no elTect and the relay is deenergized when battery is removed from its actuating winding.

Assume, however, that one of the switches I29 has been turned or set to close its contacts I36. Also, assume that the associated relay I 25 is energized in the mannerabove stated. Closure of the relay contacts I35 will complete a circuit from grounded battery I3'I through the winding of a master relay I33 and common conductor I38, closed contacts I36 of the switch, relay contacts I35 and lamp I26 when operated, locks up through the switch I36, relay make contacts I35 and holding coil :11 to ground. The associated lamp I26 is thus lighted and remains lit until its switch I36 is manually opened by a brokers clerk or other person after the price indicated by the lamp has been noted. Energization of the master relay I33 attracts its armature and closesthe make contacts I46, thus lighting the master lamp I32 which remains lit until all of the lamps I26 are extinguished.

To enable the brokers clerk readily to find which customers have buy or sell orders to be executed when the price trend has reached or passed the selected price or prices, each of the panels I21 has rows of holes I42, adapted to have plugs I43, I43a of metal, wood, fibre or other suitable material inserted therein, each of the plugs having a number of other indicia thereon which identifies the customer or customers affected. When the orders represented by the plugs have been executed or otherwise disposed of, the plugs are removed. Plugs differing in appearance from each other may be employed, if

desired, to indicate whether the orders represented by them are buy or sell orders; for example, plugs of difierent colors may be used,-

as white plugs I 43 for buying orders and red plugs I43a for selling orders.

It will be understood that all lamps corresponding to preselected prices between the last or instant price and the preceding price of the stockwill light and remain lit until their associated switches are opened.

While there are shown and described herein certain specific embodiments of the invention especially suited for uses in stock quotation systems, many other and varied forms and uses will present themselves to those versed in the art without departing from the invention, and the invention is, therefore, not limited either in structure or in use except as indicated by the terms and scope of the appended claims.

We claim:

The combination of a plurality of settable devices independently movable into positions corponding to digits of a number, a plurality of electromagnetically operable devices correspondimrto various: possiblev numbers represented by the various combined positions of said settable devices, and means operable after said devices have been set for establishing operating circuits to each of the said electromagnetic operable devices corresponding to each of the combinations of digits between the previous setting and'the new setting of said settable devices.

2. The combination of a plurality of settable devices independently and concurrently movable intopositions corresponding to digits of a numher, a plurality of electromagnetically operable devices'corresponding to various possible numbers" represented by the various combined positions of said settable devices, and means oper. able after said devices have been'set for establishing operating circuits to each of the said electromagnetic operable devices. corresponding to each of the combinations of digits'between' the previous setting and, the new setting of said settable devices.

3. A numerical comparator comprising a multicontact device settable to. a plurality of positions each corresponding to digits of a number representing an instant price of a stock or other item which fluctuates in value, means operatively con-- nected with said multi-contact device for setting said device from a remote point, to different ones of said positions respectively corresponding to the new prices of the item, a second device having a plurality of members selectively settable at will to positions corresponding to digits of 'a number representing any one of a plurality: of predetermined prices of an item, circuits interconnecting said devices, and meansincluding said circuits controlled by said multi-contact device for automatically giving a signal when the new price of the itenr set up on said multi-contact device either equals or passes the numerical value of'the item set up onthe second settable device.

4/A numerical comparatorcomprising a first device settable to different positions respectively. corresponding to successive changes in the instant price of a stock or other commodity which fluctuates in value, means operatively connectedwith said first device for setting said device from a remote point, in accordance with changes in the prices of thestook or other commodity, to

.diiferent ones of said positions respectively corresponding to the new prices of the stock or other commodity, a second device comprising meanssettable to a position representative of a predetermined priceof said stock or other commodity, and means automatically operative-when said instant price set up on said first device equalsthe predetermined price set up on said 'second settable device to indicate when said condition obtains. r 5

5. A numerical comparator comprising a first device settable to different positions respectively corresponding to successive changes in the instant price of a stock'or other commodity, a second deviceeomprising means settable to a position" corresponding to a predetermined price of said stock or other commodity, signal means automaticallyoperative when said instant price set.v up on said first device equals the predetermined price set up on said second settable device to indicate when said condition obtains, means including circuits interconnecting said devices for operatingsaid signal means, and means for rendering said circuits ineffective during the actuation of the first device toa. new price to cause said-first device to take its new setting prior to the operation-of said signal means. r

6. A quotation system for a. plurality of'items; corriprisingv a, plurality of groups of storage devices, each group being individual to a particular item and each group having means individual to difierent selected prices of an item, means common to said' groups for selecting any of the groups corresponding to a desired item, means operable in accordance with a current price of the selected item, and means automatically controlled'by the first and third named means for indicating whenthe current price equals or passes any of said selected prices.

'7. A limit order device for a stock or other item which fluctuates in price, comprising a multi-contact device settable to a plurality of positions each corresponding to digits of a number representing the instant price of the item, means operatively connected with said multicontact device for setting said device from a remote point to positions respectively corresponding to the instantv prices of the item, a group of settable devices individual to said item, the settable devices of said group respectivly corre-- sponding to different preselected prices of said item, a plurality of signal means respectively-corresponding to. said settable devices, and means including the settable devices for actuating all of the signal means corresponding to preselected prices between the instant price and the preceding price of the item. I

8'. A limit order device comprising electrical contact means, and means responsive to electrical signals for automatically setting said contact means to difl'erent positions respectively corresponding to successive changes in the instant price of a stock or other commodity, a plurality of other electrical devices each settable to an operative position to cause a signal when a predetermined price of said stock or other commodity obtains, and means for electrically connecting said contact means with said other electrical devices to actuate the same when the instant price of the stock or other commodity equals the predetermined pricesset up on said other electri cal devices. 9. A numerical comparator comprising a first means settable to a certain value of an item which fluctuates in value, a second means settable to an instant value of the item, control means for automatically changing the setting of said first means from said certain value toa setting corresponding to the instant setting of said second means, a third means settable to appredetermined value of the item, and an indicating device jointly controlled by all of said means and operable by the change in the setting of said first means togive a signalwhen, the predetermined value of the item is intermediate or equals said certain and instant values set up on saidfirst and second means. 10. The combination of a plurality of settable devices having means responsive to electrical signals for moving said devices into positions corre sponding'to the digits representative of the instant price of a stock or other item, a plurality of 'eIectro-responsive devices settable to positions corresponding to variousnumbers represented by the different combined positions of the first named settable devices, means for establishing operating circuits to preselected ones of the said electro responsive devices corresponding to certain of the combinations of digits between the devices for indicating when said operating circuits have been established.

11. A limit order system for stocks or other items which fluctuate in price, comprising a plurality of groups of devices settable in accordance with the fluctuating prices of the items, each of said groups being individual to one of said items, means common to said groups and responsive to electrical signals for selecting the group corresponding to a, desired item, means for actuating the devices of the selected group to a position representative of the instant price of the item, other means settable in accordance with predetermined prices of the items, means operable under control of the selected group of devices for automatically comparing the instant price of the selected item with a predetermined price of the item set up on said other settable means, and means for indicating the result of such comparison.

12. A limit order system for stocks or other items, comprising a plurality of groups of indicators responsive to electrical signals for displaying the fluctuating prices of the item, each of said groups being individual to one of said items, means common to said groups for selecting the group corresponding to a desired item, means for actuating the indicators of the selected group to display the instant price of the item, other electro-responsive means settable in accordance with predetermined prices of each of the items, means operable under control of the selected group of indicators for energizing certain of said electroresponsive means to automatically compare the instant price of the selected item displayed on the indicators with the predetermined prices of the item set up on said electro-responsive means, and means for indicating the result of such comparison.

13. A stock quotation system comprising a plurality of groups of stock quotation indicators, each group being individual to a particular stock, means common to said groups for selecting any of the groups corresponding to a desired stock, means for operating the selected group of indicators to set up the instant price of the desired stock, a plurality of groups of storage devices, each group being individual to one of said stocks and having means settable to different preselected prices of the stock, and'means jointly controlled by said indicators and storage devices individual to the selected stock for indicating when the instant price of the stock equals or passes any of said preselected prices.

14. A limit order system comprising electrical contact members, means responsive to electrical signal pulses for setting said contact members to difierent positions respectively corresponding to successive changes in the instant price of a stock or other item, a group of relays individual to said stock or other item, each of said relays being individual to a particular price of said stock or item, electrical circuits for selectively operating said relays under control of said electrical contact members, a signal device individual to each of said relays, a manually settable switch individual to each of said signal devices and connected thereto to prevent operation of the device in one position of the switch and to prepare a circuit for operation of the device in another position of said switch, means including an armature on each of said relays and circuit connections for causing the operation of said signal device under the joint control of said relay armature and said switch, each of said relays having an operating winding and a locking winding, means including said switch for controlling the locking winding of the relay to cause the signal device to remain operated after operation of the relay and until the relay is released by operation of the said switch.

15. A limit order system comprising electrical contact members, means responsive to electrical signal pulses for setting said contact members to difierent positions respectively corresponding to successive changes in the instant price of a stock or other item, a group of relays individual to said stock or other item, each of said relays being individual to a particular price of said stock or item, electrical circuits for selectively operating said relays under control of said electrical contact members, a signal lamp individual to each of said relays, a manually settable switch individual to each of said lamps and connected thereto to prevent operation of the lamp in one position of the switch and to prep-are a circuit for operation of the lamp in another position of said switch, means including an armature on each of said relays and circuit connections for causing the operation of said lamp under the joint control of said relay armature and said switch, each of said relays having an operating winding and a locking winding, means including said switch for controlling the locking winding of the relay to cause the lamp to remain lighted after operation of the relay and until the relay is released by operation of the said switch, a master signal device common to all the individual lamps of each stock, and means for maintaining said master signal device operated so long as any of said individual lamps is energized, thereby to call attention to the operated condition of one or more of said signal lamps of said stock.

MERTON L. HASELTON. RAYMOND M. HICKS. 

